. . . and you’d still have to raise the debt limit. That means no defense appropriations, no law enforcement appropriations, no highway appropriations. Nothing. None of it. And you’d still have to raise the debt ceiling. Or else default on interest payment. Or else decide which current beneficiaries don’t get their Social Security and Medicare checks.
If you haven’t watched this Holtz-Eakin video you should do so now:
Again, I know it is incredibly unpopular to say this, but the debt ceiling has to be raised. The question is are we getting the best deal possible, given the current environment, in exchange for raising it? Reasonable people can disagree on the latter, but not the former, unless I’m missing something.